International news

Swiss approve tighter immigration restrictions

WASHINGTON (MarketWatch) -- Swiss voters this weekend approved restrictions on immigration in a move that could disrupt economic relations with the European Union. In a national referendum, citizens passed a measure with slightly over 50% of the vote to support an unspecified cap on the number of people allowed into the country each year. The ruling government opposed the measure as did most of the country's large companies, which rely heavily on foreign workers. Yet supporters of tighter immigration controls argued that an influx of foreigners had led to overcrowding and more competition for jobs. The vote could threaten ties with the European Union - Switzerland is not a member - in light of previously signed agreements that required the Swiss to open their borders in exchange for access to nearby markets. Over the past few years immigration has become a hot-button issue once again in much of Europe as well as the United States because of weak economic conditions.

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